Today, on the occasion of the so-called 'Liberation Day', Trump plans to introduce additional tariffs on the import of Chinese ASIC equipment – a key component in the process of mining Bitcoin and other cryptocurrencies. Increased tariffs may lead to higher operational costs, supply chain disruptions, and pressure on domestic miners who have long relied on imported equipment.
Concerns about the new tariffs have been reflected in movements in the Bitcoin and Ethereum-based ETF market. Investors, worried about potential volatility and global trade tensions, have started to withdraw capital – over the past week, Bitcoin ETFs experienced net outflows totaling approximately $218 million, while Ethereum ETFs recorded outflows of around $3.6 million.